fuboTV greenshoe exercised, lifts convertibles to $402.5 million

By Taylor Fox

New York, Feb. 2 – Underwriters for fuboTV’s 3.25% convertible notes due 2026 exercised their over-allotment option to purchase an additional $52.5 million of the notes, lifting the size of the offering to $402.5 million, according to an 8-K filing with the Securities and Exchange Commission.

fuboTV originally sold $350 million of the convertible senior notes at par on Jan. 28 with an initial conversion premium of 45%.

As previously reported, price talk was for a coupon of 3% to 3.5% and an initial conversion premium of 42.5% to 47.5%.

Evercore Inc. is the bookrunner.

The proceeds from this offering will be used for general corporate purposes, including working capital, business development, sales and marketing activities and capital expenditures.

U.S. Bank NA is the trustee.

fuboTV is a New York-based sports-first live TV streaming platform.

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